Before roughnecks, there were cowboys

Connie Laughlin

DON’T BE ALL HAT AND NO CATTLE
It’s one hundred and thirty some years later and we’re still dealing with business crises. Our forefather cowboys faced peril in the 1880s. Their land wasn’t fenced and it was being overgrazed. Hundreds of thousands of cattle starved to death during the harshness of the winter as overgrazed ranges provided no forage for cattle to feed on. The cattle industry was almost done in, because no one had taken precautionary measures to protect their assets – the cattle.
The big deal then was money, cattle, and land.  Obviously protecting one’s cattle was imperative, thus barbed wire was created. In 2012, many a businessman felt he lost the fight to utilize our “barbed wire.” The law of the land recently created a bunch of new taxes and regulations and Obamacare (ACA).
OUTLOOK DIM FOR INATTENTIVE COWBOYS
We must make efficient use of our herds, or business assets. Everyone’s talking about it, but no one’s quite sure what actions to take to bear growing financial burdens, along with staying current of changing regulations targeting a wide variety of oil and gas industries and businesses.
Business owners worth their salt know their financials backwards and forwards and are trying to make adjustments for these changes, armed with the knowledge they’ve gained up to this point in their career.
KEEP THOSE DOGGIES ROLLIN’
Employees are your largest and most valuable asset. Essentially, you should look at them like cattle. How are you planning to protect your herd, i.e., guarantee your employee administrative costs stay low, adhere to employee worksite laws, sustain pro-active safety programs, efficiently and effectively manage various kinds of employee claims, meet regulatory requirements like Obamacare, and countless human resource duties?
Quit, and close the doors for good, or learn what works best for your company because things are only going to get worse! So either tighten your saddle for the long haul or get off the horse.  But, don’t ride it to the ground. 
MAXIMIZE RESOURCES
Adjusting your business strategy doesn’t necessarily mean thinning the herd.  It means putting everyone’s talent to grow revenue on full burn.  So if you or your employees are involved in things that don’t fill your bank account - STOP IT NOW!
HR (human resources) is the internal structure of your business.  You could sign up for countless classes or visit with an attorney specializing in this area to understand the length, width, height, and depth of it. Unless you’ve hired a certified pro and are paying well over six figures for this employee, you could be up the creek. Large companies with in-house HR expertise implement a full scope of initiatives to maximize employee productivity, avoid costly problems, and ultimately increase and protect profits. Smaller companies, without that expertise, are at a competitive disadvantage.
Safety consultants and effective risk management personnel are also part of your internal structure.  If you’re a manufacture or in a service industry, you know strict regulations must be adhered to or you could face lost jobs, down time, steep fines, jaw dropping law suits, and employee turnover. 
OUTSOURCE – WHY BUY THE COW IF YOU CAN GET THE MILK FOR FREE
Outsource safety programs, human resources administration, workers’ compensation insurance and claims administration, payroll administration, and benefits.  They’ve become too loosely handled in-house and DON’T drive revenue.  In most cases, employees or business owners that handle these duties absolutely do not have the knowledge required to oversee this area! Workers’ Comp claims can be very tricky.  And, as we all know, benefit laws are puzzling to say the least.
Business owners have unlimited liability. Unload as much as you can. It can be outsourced for about the same cost as doing it in-house.  Seek expert help to put better risk management processes in place to preserve your company.  We all need professional guidance and help. One could imagine that the typical business owner isn’t really sure where the vulnerabilities lie.  Due diligence is imperative in all your business processes and decisions.
Well-chosen outsourcing partners will absolutely help you - as long as know the right questions to ask. This is the tricky part, but it’s well worth going through a little hassle now - than hell later.
Connie Laughlin
Connie Laughlin is a Texas business consultant and journalist. To reach Connie, you may contact her at (361) 852-6392 or conniel@uniquehr.com.